IIT Madras to Launch ₹200 Crore VC Fund to Back Deeptech Startups

IIT Madras has announced the launch of a ₹200 crore (~$24 million) venture capital fund to support early-stage deeptech startups, particularly those incubated within its innovation ecosystem.

The fund, titled the IITM Alumni Fund, was formally introduced during the Sangam 2025 alumni summit in Bengaluru.

The fund aligns with the institute’s Startup Shatam mission to incubate 100 deeptech startups annually. 

• Fund Focus: Pre-Series A and Series A investments in deeptech ventures
• Backers: Primarily funded by IITM alumni and high-net-worth individuals
• Structure: Operates as a separate legal entity with standard VC governance
• Vision: Supports the institute’s ‘Startup Shatam’ mission to incubate 100 deeptech startups annually
• Track Record: IITM has already incubated 500+ startups with a combined valuation of over ₹50,000 crore and created 11,000+ jobs
• Notable Successes: Includes unicorns like Ather Energy and Uniphore

Prof. Ashwin Mahalingam, Dean (Alumni and Corporate Relations), IIT Madras, said —

“This fund will help accelerate our vision of ‘Startup Shatam’... A focused Series A-level VC fund, where the investors are our own alumni and well-wishers, is exactly what is going to get us there.”